#PerpetualRollingStrangles – A couple small adjustments to keep the theta up…
Bought to Close TLT MAY 19 2017 124.0 Calls @ .09 (sold for .96)
Sold TLT MAY 26 2017 121.5 Calls @ .60
Author Archives: fuzzballl
NVDA earnings
#Earnings #ShortStrangles – Busy week so checking in for a couple minutes. Already have a long term position in NVDA but premiums look so good will probably be selling some more strangles today. Current position is long a few deltas so looking at a skewed strangle in the neighborhood of 95/110.
Good luck everyone!
EVIX and EXIV
http://www.euroinvestor.com/news/2017/05/03/velocityshares-launches-first-european-volatility-etns/13589275
/CL and summer demand
My first foray into crude futures so staying low risk. If we get a pop it’s a decent profit. If she tanks (doesn’t matter how low it goes) I’ll be long one dollar below where it’s trading in August. Pretty decent call premium for selling covered when (if) I get assigned.
SOLD /CL AUG 17 48/46 BULL PUT SPREAD @ 1.00
REGN
#ShortStrangles – Bought to Close REGN MAY 5 2017 422.5 Puts @ .20 (sold for 25.20)
And:
Sold to Open REGN MAY 12 2017 430.0 Puts @ 6.50
UVXY….book ’em
SVXY
#ShortCalls – Adding to top of the ladder…
Sold SVXY JAN 19 2018 260.0 Call @ 3.20
CMG roll
#ShortStrangles – To eliminate any risk of overnight assignment…
Rolled this week’s 490 put out two weeks to 487.5 @ .55 credit. This is against a DITM short call so a welcome pullback.
GILD earnings
#Earnings – Making sure I get out of this….not risking a big drop tomorrow and saving exercise fees. Made about what my earnings trade target was by holding an extra week.
Sold to Close GILD Stock/Covered Calls @ 66.94 (basis 65.90)
EDIT… “Sold to Close”
SVXY for the team
#TakeOneForTheTeam – Took an additional stealth one for the team (didn’t post it due to the risk). Sold this week’s 151/156 BuPS early in the week. Got assigned last night on the 156 put so this morning sold the long put @ 2.20. Received 2.84 for the original sale so in the stock @ 151.
I’ll probably hang on to it for awhile to help protect Jan 2018 short calls @ 225, 230, 235, 240, 245, 250, and 255.
As of right now delta on the shares vs the short calls is -27. This becomes delta neutral @ 140.55 so I may end up selling a few more calls for some extra downside protection.
REGN never a dull moment
#ShortStrangles – Learned (again) another valuable lesson. Had short calls on this thing that could’ve been closed for pretty cheap one week ago today. Now…not so much after a straight up 70 dollar move in a week. These calls (382.5 and 390) will be rolled to new strangles or way out and up and then sell the crap out of weeklies against them.
The good news is I chased short puts all the way up the run collecting great premium along the way….
Currently the puts are:
422.5 @ 23.25 each average. These include rolls from 375 to 380 to 385 to 395 to 400 to 410 to 422.5…LOL!
Lots of maneuvering room here but would’ve been much easier to take the 80 percent of max winner last week…
SVXY
#IRA – Replacing a closed position from yesterday…
Sold SVXY DEC 15 2017 80.0 Put @ 3.50
TSLA strangle
#ShortStrangles – Sold TSLA JAN 19 2018 175.0/500.0 Strangle @ 6.10
TSLA
#Earnings – Once it broke 300 I bailed at even.
Bought to Close TSLA MAY 19 2017 295.0/350.0 Strangle @ 5.95 (sold for 6.00)
UP and DOWN x4
Crazy…
http://www.zerohedge.com/news/2017-05-03/there-now-quadruple-leveraged-sp-500-etf
TSLA earnings
#Earnings – Just for fun trying something a little different. Since I don’t want to sell any more than one strangle, gonna go out in time a little for more premium.
Sold 1 TSLA MAY 19 2017 295.0/350.0 Strangle @ 6.00
SVXY
My highest strike in the #IRA … freeing up margin for the next opportunity.
Bought to Close SVXY MAY 19 2017 90.0 Put @ .20 (sold for 2.75)
REGN earnings
If I didn’t have positions already, I’d be looking at this one…
NUGT DUST combo platter
#ShortCalls – New NUGT options available today. Selling a combo since they both can’t lose…highest NUGT strike so far paired with whatever DUST strike brings equal premium.
Sold NUGT JUL 21 2017 45.0 Call @ 2.10
Sold DUST JUL 21 2017 50.0 Call @ 2.20
TLT adjustment
Possibly my favorite #PerpetualRollingStrangles …
Rolled this week’s 123.5 puts out to May monthly 123.5 @ .38 credit.
Paired with many calls near the same strike out over the next few weeks.
GLD rolled
#PerpetualRollingStrangles – Another roll. They add up over time…
Rolled this week’s 120.5/113.0 inverted strangles to May monthly same strikes @ .55 credit.
Came close to getting out of the 120.5 puts but she reversed too soon…
CMG
#ShortStrangles – My only problem child…time for more aggressive punishment to force some cooperation.
Short a Jun 450 call and a May 470 put so:
Rolled May 470 put in and up to this week’s 490 @ 2.55 credit.
Total premium received on the 490 put is now up to 9.56. Plan is to keep selling at or slightly in the money puts every week until a reversal. Otherwise will have plenty of credit in the position for a debit roll of the call.
EWW
#PerpetualRollingStrangles – Replacing this week’s…
Sold EWW MAY 26 2017 51.5 Puts @ .75
GOOGL adjustment
#LongCallDiagonals – Paying a small debit but that’s ok since this short call has accumulated 10.15 in premium so far.
Rolled May 12th 857.5 call to Sep 15th 880.0 call @ .90 debit
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
Looking at rolling the 2019 long call up (again) which would take nearly all the risk out of the trade…
SVXY for the team
#TakeOneForTheTeam #ShortStrangles – Looks like we need another one of these so here goes….
Sold SVXY MAY 19 2017 160.0/155.0 Bull put spreads @ 3.07
Even with an implosion I’ll get the stock just a measly 1.93 below where it’s trading then…
WYNN again
#ShortStrangles – WYNN did it to me again….same as last quarter. Changed earnings dates the weekend before the announcement. Had rolled my strangle into what was supposed to be the week before earnings. Plan was to then have a nice adjusting roll into earnings week. Turned out to be the week of earnings so IV exploded along with a huge move so adjusting again. Kind of a pain but has been a nice cash generator last few months.
Bought to Close WYNN APR 28 2017 120.0 Puts @ .05 (sold for 2.17)
Rolled WYNN 105 calls to May monthly 130/110 inverted @ 1.12 credit.
CMG
#ShortStrangles – Having to take care of some of these earlier than I would like but I’ll be out the rest of the week except for maybe a few last minute rolls from the phone (in between golf shots 🙂 )
Bought to Close CMG APR 28 2017 480.0 Put @ 6.10 (sold for 15.00 after multiple roll-ups)
Replacing that with:
Sold CMG MAY 19 2017 470.0 Put @ 7.01
Selling against a Jun 450 short call…
FXE
#ShortStrangles – I’m booking the quick profit since it was a decent size position (for me). Looking to sell again as the paranoia of the May 7th runoff gets wound up…
Bought to Close FXE MAY 19 2017 101.0/107.0 Strangles @ .50 (sold for 1.02)
FEYE finally!
#CoveredCalls #IRA – Sold FEYE May 5 2017 12.0 Calls @ .96
After months and months of selling I’ll finally be out at a tiny profit. Sold this last batch in earnings week so great premium. Of course, now that my upside is capped, it’ll jump 50 percent on the announcement…LOL
ISRG
#Earnings #ShortStrangles – Could let this thing go at breakeven today but….it’s brought in nice premium so I’m gonna give it another week and try to get one side to expire then work with the other side for awhile.
Rolled 815/800 inverted strangle out to next week’s 817.5/815 inverted @ .20 credit.
New position is now 817.5/815 inverted @ 15.33
I’d prefer the call side to expire since the put should be easier to roll. Another option would be to roll whatever side is left out to a new, wider strangle.
FXE
A new ticker I’m adding. Super low margin with decent liquidity and premium…
Sold FXE MAY 19 2017 101.0/107.0 Strangles @ 1.02
Joining TLT, GLD, EWW in my #PerpetualRollingStrangles experiment…
IBB adjustment
#ShortStrangles – Rolled this week’s 295 put out to May monthly @ 3.00 credit. Sold against a 300 call…
Position now 295/300 strangle @ 8.65
NIB
#FallingKnife – 10 year low…anyone like hot chocolate?
GOOGL adjustment
#LongCallDiagonals – Earnings next week so rolling this thing up to at the money. Paying a small debit but that’s ok since this short call has accumulated 13.00 in premium so far.
Rolled Apr 21st 840.0 call to Apr 28th 855.0 @ .75 debit
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.
JPM
#LongCallDiagonals #IRA – Still selling weeklies while she rests…
Bought to Close JPM APR 21 2017 87.0 Calls @ .04 (sold for .47)
Sold JPM APR 28 2017 86.5 Calls @ .45
EWW adjustment
#ShortStrangles – Looks like the short term run is over. Closing put side of strangle at even and re-selling in the same expiration where I rolled the calls earlier.
Bought to Close EWW APR 21 2017 52.5 Puts @ 1.73 (sold for 1.75)
Sold EWW MAY 12 2017 49.0 Puts @ .61
New position is now May 12th 49/50 Strangles @ 1.43
ISRG
#Earnings – Bought to Close ISRG APR 21 2017 720.0 Put @ .05
This leaves 5.04 of premium from the original strangle. Still sitting on the short 800 call.
Also:
Sold ISRG APR 21 2017 805.0 Put @ 6.40
Position is now 805/800 inverted @ 11.44 credit. That give plenty of maneuvering room for an end of week roll if needed. Not ideal but could still work out unless ISRG pulls a CMG and goes to 1000!
CMG
#ShortStrangles – Bought to Close CMG APR 21 2017 455.0 Put @ .10 (sold for 6.15 after a couple roll ups)
Still have the short 440 call from the other side of the strangle. With earnings next week I could roll it up a few strikes and sell another aggressive put or just split it up into a new strangle…
Upcoming volatility?
From a newsletter I receive…FWIW
RENN earnings
#Earnings – Is this crazy? Breakeven at 8.05. Risking .05 to make .95 About like a hand of blackjack…
Sold RENN APR 21 2017 9.0/8.0 Bull put spreads @ .95
SPX for fun
#IronCondors – Legging in staying small. Low (zero?) risk with decent return.
Yesterday Sold Apr 21st 2360/2365 Bear call spreads @ 1.00
Today Sold Apr 21st 2330/2325 Bull put spreads @ 1.55
2.55 credit on 2.50 wide condors. Now risk free but need to hold 2330 by end of week. Let ‘er ride!
TLT adjustment
Rolled Apr 28th 119.5 calls to Jun 120 monthlies @ .10 credit
Rolled Apr 28th 119.0 calls to Jul 120 monthlies @ .02 credit
Replacing a fairly sizable expiration this week with next week’s:
Sold TLT APR 28 2017 123.5 Puts @ .82
GS earnings
#Earnings #IronFlies – Bought to Close GS APR 21 2017 222.5/225.0/227.5 iron flies @ 2.28 (sold for 2.14)
Taking tiny loss and looking for other opportunities…
NFLX earnings
#Earnings #ShortStrangles – Bought to Close NFLX APR 21 2017 140.0/165.0 Strangles @ .40 (sold for 3.80)
Sold to Close NFLX JUN 16 2017 100.0 Puts @ .08 (bought for .17)
🙂 🙂
GS earnings
#Earnings #IronFlies – Having a pretty good year in this ticker so risking a few shekels with iron flies…
Sold GS APR 21 2017 222.5/225.0/227.5 iron flies @ 2.14
Risk 36 to make 214 per fly. 2.50 wide with an expected move of 1.60
NFLX earnings
#Earnings #ShortStrangles – No position in this thing right now so taking a fairly aggressive, slightly bullish shot.
Sold NFLX APR 21 2017 140.0/165.0 Strangles @ 3.80
/ES hedge
No nukes over the weekend so re-covering my short emini with a put. I’ll also add a buy stop on the emini at breakeven and sell a call to re-establish the short position if stopped out.
Emini contract short @ 2339.0 with a buy stop at that level
And:
SOLD /ES MAY 17 (Wk3) 2275 PUT @ 23.00
SOLD /ES MAY 17 (Wk3) 2375 CALL @ 12.00
Max gain on this position if we continue down is 99 points. I’d also have the option of rolling the put further out and down if needed.
TSLA trucking
http://www.cnbc.com/2017/04/13/musk-says-tesla-set-to-unveil-semi-truck-in-september.html
/ES hedge
#Futures – Been selling puts against the short emini gradually raising it’s basis. Closing the put for the weekend for a little extra protection.
Bought to Close /ES MAY 17 (Wk3) 2340 PUT @ 38.75
KaBoom!!
Anyone feel the rumble? That would leave a nice divot in North Korea too.
http://www.independent.co.uk/news/world/americas/gbu-43b-mother-of-all-bombs-massive-ordnance-air-blast-afghanistan-isis-a7682996.html
UVXY
#IRA – Adding to an existing position…
Sold UVXY SEP 15 2017 30.0/40.0 Bear call spread @ 1.25
WYNN adjustment
#ShortStrangles – As long as the stock is grinding around in between the strikes I’ll keep rolling for good cash.
Rolled Apr 13th 120/105 inverted strangles to Apr 28th @ 1.80 credit.
This is another roll into the week before earnings…
REGN adjustment
#ShortStrangles – Pretty aggressive but with earnings the following week a roll should be easy…
Rolled Apr 28th 410.0 call down to 380.0 @ 3.62 credit (filled well above the mid)
Current position is now Apr 28th 380 straddle @ 16.32
TLT adjustment
#PerpetualRollingStrangles – Collecting some more nice weekly dividends…
Rolled Apr 13th 119.5 calls to May 5th 120.0 @ .09 credit
Rolled Apr 13th 121.5 puts to Apr 21st 122.0 @ .76 credit
Rolled Apr 13th 122.0 puts to Apr 21st 123.0 @ .92 credit
And to add a few more long deltas I’m pulling the May monthly puts in and up a little:
Bought to Close TLT MAY 19 2017 116.0 Puts @ .32 (sold for .69)
Sold TLT APR 21 2017 123.5 Puts @ 1.53
SVXY
#IRA #ShortPuts – Re-loading but plenty of dry powder for lower strikes.
Sold SVXY MAY 19 2017 90.0 Put @ 2.75
Sold SVXY JUN 16 2017 80.0 Put @ 2.75
Sold SVXY SEP 15 2017 70.0 Put @ 3.25
Sold SVXY JAN 19 2018 60.0 Put @ 4.00
SVXY
#ShortStrangles – Adding another one. This is my widest one so far in this expiration.
Sold SVXY JAN 19 2018 55.0/255.0 Strangle @ 5.75
SVXY
#ShortPuts – Margin freebie against short calls…
Sold SVXY JAN 19 2018 55.0 Put @ 2.50
GOOGL adjustment
#LongCallDiagonals – Taking a little risk off the table with this big up move finally stalling and earnings coming up. Not up as much as the AMZN trade but still up considerably from Nov 15th when the trade started.
Rolled Jan 2019 650 call up to 750 @ 74.08 credit.
NVDA
#IRA #ShortPuts – Caught a downgrade last week by some “expert”. Looks like it’s heading to the 200ma so taking some risk off. I’ll look to sell again during or after earnings.
Bought to Close NVDA APR 21 2017 95.0 Puts @ .87 (sold for 1.75)
Bought to Close NVDA APR 21 2017 100.0 Puts @ 2.95 (sold for 3.10)
Arab Spring and debt ceiling….any similarities to now? Hmmmm…
https://en.m.wikipedia.org/wiki/Arab_Spring
https://en.m.wikipedia.org/wiki/Black_Monday_(2011)
SVXY
#ShortPuts – Playing it safe near term. Will be looking out in time and much lower strikes…possibly adding to Jan 2018 strangles.
Bought to Close SVXY MAY 19 2017 80.0 Put @ 1.08 (sold for 1.35)
Bought to Close SVXY JUN 16 2017 70.0 Put Limit @ 1.13 (sold for 3.25)
And in an #IRA :
Bought to Close SVXY APR 21 2017 105.0 Put @ .80 (sold for 2.50)
Bought to Close SVXY APR 28 2017 100.0 Put @ 1.41 (sold for 2.20)
Bought to Close SVXY MAY 5 2017 100.0 Put @ 1.73 (sold for 2.75)
Bought to Close SVXY MAY 12 2017 95.0 Put @ 1.97 (sold for 2.25)
Since this is a smaller IRA that is usually fully invested in SVXY I’m booking these and looking for lower strike opportunities vs getting tied up for months in possibly underwater positions if something crazy happens.
NVDA
Selling against ITM puts…staying one week short of earnings.
Sold NVDA MAY 5 2017 105.0 Calls @ 1.35
SVXY (for the team)
My work is done here…best 12 bucks I ever spent!
🙂
Bought to Close SVXY APR 7 2017 143.0 Put @ 3.60 (sold for 3.50)
IBB
#ShortStrangles – Replacing this week’s…
Sold IBB MAY 19 2017 300.0 Call @ 3.00
AMZN adjustment
#LongCallDiagonals – Taking a little risk off the table with this big up move finally stalling…
Rolled Jan 2019 600 call up to 750 @ 112.0 credit.
GLD adjustment
Still meandering around in between the strikes so I’m still selling and collecting…another “dividend” payment.
🙂 🙂
Rolled GLD 120.5/113 inverted out from Apr 7th to May 5th @ 1.05 credit.
EWW adjustment
#ShortStrangles – Rolled Apr 49 calls to May 12 weekly 50’s @ .48 debit
And to pay for it:
Rolled Apr 51 puts up to Apr 52.5 @ .58 credit
NVDA
#IRA #ShortPuts – Playing it safe….
Bought to Close NVDA APR 21 2017 105.0 Put @ 5.10 (sold for 5.10)
Still holding 100’s and 95’s…
MGM
#IRA #BullPutSpreads – Nearing recent highs so unloading this one…
Bought to Close Apr 21 2017 28/25 Bull Put Spreads @ .60 (sold for 1.60)
AMZN adjustment
#LongCallDiagonals – Making some bigger adjustments in these trades…letting the leash out a little with it on a big run…
Rolled May 19th 810.0 call to Oct 20th 850.0 call @ 3.06 debit. Rolling up along the 50ma…
Don’t mind spending 3 bucks to pick up 40 points considering the front month calls have brought in 42 points since the beginning of the trade…
This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working very nicely.
NVDA
#AnalystsAreIdiots – I got a little directional on my NVDA position figuring she bounces at the 50ma. Sold my calls a little looser against the ITM puts. Got what I deserved…LOL That’s why I’m no longer a directional player. Too many unknowns with some off the wall analyst talking the thing down probably looking to buy.
Rolled Apr monthly 116, 117, and 118 calls down to 108 @ .55 credit. Will roll the puts to the week before earnings then adjust from there.
TSLA adjustment
Posted this last week:
#ShortStrangles -Not a big fan of this thing so getting out of the way. I’ll revisit it over earnings. Closing short call and letting short put sit for now. May still eventually roll this short call into a new strangle.
Current position: Apr monthly 255/275 strangle @ 11.53
Bought to Close TSLA APR 21 2017 275.0 Call @ 12.20
So if the put expires it’s a .67 loser. (1 contract…LOL) Might still roll this into something pretty wide to scratch out a small winner…
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Glad I got out of the way. Now trying to get back to a slight winner:
Rolled TSLA Apr 21 255 put to Apr 28 257.5 put @ .70 credit. Hopefully this is before earnings…
SVXY (for the team)
It warms my heart to see all the volatility selling today. My 143 put is finally doing it’s job…and could still recover by Friday!
🙂 🙂 🙂
SVXY
#ShortPuts #IRA #VXXGame – Sold SVXY MAY 12 2017 95.0 Put @ 2.25
JPM
#LongCallDiagonals – Selling next week’s calls against Jan 2019 long position. In an #IRA so have to roll…
Bought to Close JPM APR 7 2017 90.0 Calls @ .03 (sold for .23)
Sold JPM APR 13 2017 89.0 Calls @ .39
Options Bistro 